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Need professional advice for your consent to let with Hodge Life? There are various implications when it comes to letting out your property with an existing residential mortgage - you should seek professional assistance.
Hodge Life consent to let: Q and A’s
- Me and my husband live in a property where there exists a number of vacant rooms. We are looking into the idea of creating an AirBnB type business to let half the property out on a short term basis. Are you aware if this kind of thing acceptable in accordance with Hodge Life’s consent to let protocol?
- I currently have a residential mortgage with Hodge Life. I have been offered a property as part of my job and would like to lease out my existing home. The financial broker has advised me it is a simple process. Can you give me some information please?
- My OH and I might have to let his property out. I am aware that I require consent to let by Hodge Life. We plan on joining a landlord association if we decide to let the property, but are there any thoughts on which is the best? We've come across the RLA and National Landlords Association.
- As a result of a change in family circumstances my wife and I are moving to my mum and dad’s house while they are away and letting our home out. What is best way to approach my mortgage lender for a 'Consent-to-Let' ? We will need to refinance in the next year will we then transfer to a BTL product. We intend to return to our property at the beginning of 2017?
- Hi, what documents or paperwork would Hodge Life require for a consent to let letter?
- I am hoping to fix my residential mortgage with Hodge Life but due to work related issues I might have to live abroad for a couple of years. Will Hodge Life allow and give consent to let and there be any penalty
- I would like details of how to proceed with gaining consent to let from Hodge Life and what, if any, fees apply.
- I have a mortgage with Hodge Life but would like to rent my house out and move in with my girlfriend and baby what would I have to do to obtain consent to let?
Find out more about how flying freeholds can affect the marketability of a property.
Caveats to be read in supplemental the above Hodge Life consent to let Info
Tax and Legal
There may be various tax and legal (from restrictions on title, lease prohibitions to planning issues) implications when letting out your property. You should always seek the advice of a solicitor and accountant before letting out your property.
Insurance
Where you hold buildings and contents insurance on your property you should review it to make sure it continues to provide the cover you need. It is also important that you update your insurance provider of your change in circumstance, as failure to inform them could result in your insurance becoming invalid. As a minimum you should ensure that you are covered for any third party liability in respect of injuries to your tenant whilst at your property
Leasehold properties
Should the tenure of your property be leasehold, the provisions in the lease may prevent you from letting or require that you obtain the consent of the freeholder. If such terms are not adhered to you may be in violation of the lease. This could trigger the freeholder commencing forfeiture proceedings.
Co-ownership
Neglecting to advise your co-owner of your intention to let could result in them taking legal action against you. Be sure to obtain their consent in writing.
If you do not keep up the payments on your mortgage with Hodge Life your property may be repossessed